IIM Nagpur To Flag Off A Women Startup Program For Budding Women Enterpreneurs

The program aspires to fortify the business ideas conceived by women and turn into business ventures.

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IIM Nagpur in collaboration with NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) of IIM Bangalore has established a Women Startup Programme. The program which is started this year is financed by Goldman Sachs and Department of Science and Technology (DST) and Government of India. The program is aimed to put women entrepreneurs through their paces.

The WSP aspires to fortify the business ideas conceived by women and turn into business ventures. A training module will also be included in the program where women would be tutored on managerial and entrepreneurial skills. At the time of conclusion of the training, proper mentoring and advice on the incubation will be given. A financial layout for imbibing modest monetary aid during the incubation process will also be handed over.

The opening year of 2018-19 is expected to develop entrepreneurial skills of around 100 women entrepreneurs. IIM Bangalore was the first to flag off this program with a class of 15 women entrepreneurs in its 2016-17 program. With IIM Nagpur along with other partners partaking in the program, it is sure to spread across different cities.

According to a survey in 2013, India, amongst the other BRICS economies, had a low number of entrepreneurs in the working population of the country. The already shocking low figures went worse when it reduced from 9% in 2006 to 6% in 2013.

A report of NASSCOM in 2017 showed that women entrepreneurs only made up for 11% of the startups in India. Supporting the data is SAHA fund’s statistics which point out that out of the 11%, only 3% receive funding from a venture capitalist.

The appalling figures indicated it was high time for women entrepreneurs to step into the scene. It was noted that to uplift the capabilities of a women entrepreneurs, human capital was direly needed. And thus, the program will also inspire the women entrepreneurs to build upon human capital.

In India, Bangalore, Delhi, and Mumbai have been the hubs for the startups. In 2017, 20% of the startups mushroomed from tier II and III cities. Nagpur being considered as an important investment hub is now been looked upon as high-potential cities in the coming times.

On the launch of this program, Prof. Thiagu Ranganathan, chairperson for this initiative said, “We feel very fortunate and are thrilled to partner in this programme and hope to collaborate in making the programme reach out its full potential.”

There is no registration fee for the programme. Registered participants will have to be present for the Massive Online Open Course (MOOC) which will start from the 22nd of January. Two boot camp and incubation of the selected candidates will be followed.